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OCBC ceases coverage on QAF on redistribution of internal resources

Samantha Chiew
Samantha Chiew8/10/2017 11:56 AM GMT+08  • 2 min read
OCBC ceases coverage on QAF on redistribution of internal resources
SINGAPORE (Aug 10): OCBC is ceasing coverage of QAF as the group redistributes its internal resources amid rising competition, currency volatility and costs.
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SINGAPORE (Aug 10): OCBC is ceasing coverage of QAF as the group redistributes its internal resources amid rising competition, currency volatility and costs.

Better known as the maker of Gardenia bread, QAF’s business can be divided into four major segments, namely bakery, primary production, trading & logistics and investments & others.

In 2Q17, QAF reported a weaker set of results. Revenue was up 1% to $209.8 million but PATMI tumbled 72% to $8.06 million compared to $28.8 million in 2Q16 which included an exceptional gain of $9.7 million.

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